R&D‐induced Growth in the OECD?

Marios Zachariadis

Review of Development Economics, 2004, vol. 8, issue 3, 423-439

Abstract: The study uses aggregate and manufacturing sector data for a group of ten OECD countries for the period 1971 to 1995 to estimate a system of two equations implied by a model of R&D‐induced growth in steady state. These equations relate R&D intensity to productivity growth and the latter to output growth. The author finds evidence of a positive impact of aggregate R&D intensity on the growth rates of productivity and output. The null hypothesis that growth is not induced by R&D is rejected in favor of the Schumpeterian endogenous growth framework without scale effects. The R&D impact for the aggregate economy is distinctly larger than for the manufacturing sector. Finally, an extension of the empirical model shows that openness has a positive impact on productivity growth.

Date: 2004
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https://doi.org/10.1111/j.1467-9361.2004.00243.x

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Working Paper: R&D-Induced Growth in the OECD? (2001)
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